SG Americas Securities LLC Has $495,000 Holdings in Iridium Communications Inc (NASDAQ:IRDM)

SG Americas Securities LLC increased its stake in shares of Iridium Communications Inc (NASDAQ:IRDM - Free Report) by 182.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 18,109 shares of the technology company's stock after acquiring an additional 11,705 shares during the period. SG Americas Securities LLC's holdings in Iridium Communications were worth $495,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRDM. Avanza Fonder AB purchased a new position in Iridium Communications in the first quarter valued at about $414,000. GAMMA Investing LLC boosted its stake in Iridium Communications by 14.1% during the 1st quarter. GAMMA Investing LLC now owns 3,961 shares of the technology company's stock valued at $108,000 after purchasing an additional 488 shares during the period. UMB Bank n.a. increased its stake in shares of Iridium Communications by 129.8% in the first quarter. UMB Bank n.a. now owns 1,379 shares of the technology company's stock valued at $38,000 after purchasing an additional 779 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Iridium Communications by 5.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,157 shares of the technology company's stock valued at $701,000 after buying an additional 1,300 shares during the last quarter. Finally, Castle Rock Wealth Management LLC acquired a new position in shares of Iridium Communications during the fourth quarter worth approximately $1,918,000. Hedge funds and other institutional investors own 84.36% of the company's stock.

Wall Street Analyst Weigh In

IRDM has been the topic of several recent analyst reports. BWS Financial dropped their target price on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. William Blair upgraded Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. Oppenheimer started coverage on Iridium Communications in a research note on Monday, May 5th. They issued an "outperform" rating and a $34.00 price objective on the stock. Wall Street Zen cut Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Barclays dropped their price target on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.25.

Iridium Communications Stock Performance

Shares of IRDM traded up $0.53 during mid-day trading on Friday, hitting $30.04. The company's stock had a trading volume of 2,399,786 shares, compared to its average volume of 1,168,163. The stock's 50-day moving average is $26.20 and its two-hundred day moving average is $27.76. The firm has a market capitalization of $3.25 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.75. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.36 and a current ratio of 1.99. Iridium Communications Inc has a one year low of $19.91 and a one year high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. Iridium Communications had a return on equity of 19.41% and a net margin of 14.68%. The business had revenue of $214.88 million for the quarter, compared to analysts' expectations of $211.78 million. During the same period in the previous year, the business posted $0.17 earnings per share. As a group, sell-side analysts anticipate that Iridium Communications Inc will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, June 13th. Iridium Communications's dividend payout ratio is currently 52.83%.

Iridium Communications Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.